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		<title>COUPDAYS Function</title>
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			<h1>COUPDAYS Function</h1>
			<p>The <b>COUPDAYS</b> function is one of the <a href="../UsageInstructions/InsertFunction.htm#financial" onclick="onhyperlinkclick(this)">financial functions</a>. It is used to calculate the number of days in the coupon period that contains the settlement date.</p>
			<h3>Syntax</h3> 
			<p><b><em>COUPDAYS(settlement, maturity, frequency, [basis])</em></b></p> 
			<p>The <b>COUPDAYS</b> function has the following arguments:</p>
            <table style="width: 40%">
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                    <th style="background-color: #f4f4f4" width="150ch"><b>Argument</b></th>
                    <th style="background-color: #f4f4f4"><b>Description</b></th>
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                    <td><b><em>settlement</em></b></td>
                    <td>The date when the security is purchased.</td>
                </tr>
                <tr>
                    <td><b><em>maturity</em></b></td>
                    <td>The date when the security expires.</td>
                </tr>
                <tr>
                    <td><b><em>frequency</em></b></td>
                    <td>The number of interest payments per year. The possible values are: 1 for annual payments, 2 for semiannual payments, 4 for quarterly payments.</td>
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                    <td><b><em>basis</em></b></td>
                    <td>The day count basis to use, a numeric value greater than or equal to 0, but less than or equal to 4. It is an optional argument. The possible values are listed in the table below.</td>
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            <p>The <b><em>basis</em></b> argument can be one of the following:</p>
            
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                    <th style="background-color: #f4f4f4"><b>Numeric value</b></th>
                    <th style="background-color: #f4f4f4"><b>Count basis</b></th>
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                    <td><b><em>0</em></b></td>
                    <td>US (NASD) 30/360</td>
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                    <td><b><em>1</em></b></td>
                    <td>Actual/actual</td>
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                    <td><b><em>2</em></b></td>
                    <td>Actual/360</td>
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                    <td><b><em>3</em></b></td>
                    <td>Actual/365</td>
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                    <td><b><em>4</em></b></td>
                    <td>European 30/360</td>
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            </table>
            <h3>Notes</h3>
            <p>Dates must be entered by using the <a href="Date.htm" onclick="onhyperlinkclick(this)">DATE</a> function.</p>			
			<p><a href="../UsageInstructions/InsertFunction.htm#applyfunction" onclick="onhyperlinkclick(this)">How to apply</a> the <b>COUPDAYS</b> function.</p>
			
			<h3>Examples</h3>
            <p>The figure below displays the result returned by the <b>COUPDAYS</b> function.</p>
			<p><img alt="COUPDAYS Function" src="../images/coupdays.png" /></p>
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